What is AEC 2015? Why English is important for AEC 2015?

AEC 2015, as known as ASEAN Economic Community 2015, is a

uniting of 10 ASEAN countries, which are Thailand, Myanmar, Laos,
Vietnam, Malaysia, Singapore, Indonesia, Philippines, Cambodia, and
Brunei. AEC 2015 will bring a new era of economical cooperation to all 10
countries. Investors can invest anywhere in these countries. Workers can
go work anywhere in these countries also with no tight restriction like
before. Competition will get fiercer for those who are not well-prepared. All
10 countries agree to use English as the language for business.

How to get ready for AEC 2015?

a. Education
For people over 30, theres a danger of being outdated compared
to those who are AEC ready. Unfortunately, itmay be harder to find a
new job. The only solution is to learn something new such as
English.
b. Language
English will be the language for business in AEC 2015. Many
countries that used to be a colony of the British Empire will have
little trouble when having to communicate in English. In the near
future, China, Japan, and South Korea, will join the AEC as well. This
means learning English will become even more crucial.
c. Work Culture
With more job candidates, employers will have tighter criteria for
hiring new employees. Those who want to be successful in their
career will have to work harder and be more determined about how
they want their work life to be. Forget about the routine style of
working!

Are your English skills ready for AEC?

Imagine many people from ASEAN countries coming into Thailand
for business and investment. Every area of work in Thailand will need
personnel with fluent English. Better English means more opportunities.
Imagine if the worst-case scenario happens and that people who are more
skilled in English replace you! When AEC 2015 comes, will you and your
English skills be ready for it? Are you confident enough to work in such a
competitive era?

5 Strategies to Face ASEAN Economic Community 2016

When Indonesia had signed the agreement to join the free trade
market of ASEAN, not only goods and services will move freely but also
the manpower. In this case, Indonesia must prepare itself to improve the
quality of its human skills. There are some important skills that we should
improve so that were able to compete.

Here are some strategies so that you can compete in the Era of
ASEAN Economic Community 2016
1. Language
 Why language? As the free market 2016 had been signed we will be
cooperating with foreigners from various countries which English is
not their mother tongue. Surely, theyre speaking English but if you
communicate with them through their mother tongue language,
theyll be more respectful to you.
2. Networking
Why networking? Make sure you maintain a good relations with your
coworker cause networking will be helpful to develop your business
later.
3. Public Speaking
Why public speaking? Perhaps youre smart and talented that you
can create something to change the world but without the ability to
speak up in front of many people, the big things inside your head
will be nothing.
4. Negotiating
Why negotiating? In order to cooperate, you need the ability to
negotiate. Not many people are good at negotiating thats why they
cant get a mutual agreement.
5. Leadership
Why leadership? People who have the ability to lead will be needed
in many aspects. Cause this kind of people have the tendency to
manage and paying much attention to their group process.

The ASEAN Economic Community is founded on four basic initiatives:

creating a single market and production base; increasing competitiveness;
promoting equitable economic development; and further integrating
ASEAN with the global economy.
Source: ASEAN. 2007. Singapore. Declaration on the ASEAN Economic
Community Blueprint

Some analysts believe that the ASEAN Economic Community will miss its
December 2015 deadline because of the challenging requirements of
economic integration, including changes to domestic laws and in some
cases constitutional changes.
Source: ADB. 2015. Realizing an ASEAN Economic Community: Progress
and Remaining Challenges

1. What is the AEC?

The AEC aims to integrate South-east Asias diverse
economies into a single market with 625 million people and a
combined gross domestic product of US$2.5 trillion in 2014.
It is to be defined by a few key characteristics - a single
market and production base, a highly competitive economic region,
a region of equitable economic development and a region fully
integrated into the global economy.
The areas of cooperation among Asean members include:
Human resources development and capacity building
Recognition of professional qualifications
Closer consultation on macroeconomic and financial policies
 Trade financing measures
Enhanced infrastructure and communications connectivity
Development of electronic transactions through e-Asean
Integrating industries across the region to promote regional
sourcing
Enhancing private sector involvement for the building of the
AEC
In short, the AEC will transform the Asean economy into a region with free
movement of goods, services, investment, skilled labour and freer flow of
capital.

2. Who will make up the AEC?

The AEC will comprise the 10 Asean members - Brunei,
Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines,
Singapore, Thailand and Vietnam.
Each member already has its own attractive characteristics for
investors, including favourable demographic profiles, abundant
natural resources and low-cost labour, among other factors.

3. When is it being launched?

The AEC - which has been years in the making - is targeted to
be formed by Dec 31, 2015.
The Asean Leaders adopted the Asean Economic Blueprint at
the 13th Asean Summit on Nov 20, 2007, in Singapore; the
document serves as a coherent masterplan for the AEC.

4. How will the AEC change the global landscape?

By transforming Asean into a single market and production
base, the AEC will boost the competitiveness and connectivity of the
region as a whole. If implemented, the AEC could lift aggregate
output by 7 per cent by 2025.
Ideally, the AEC will help link up the less developed economies
with the more developed ones, bringing about a more equitable
economic development across the region. Asean as a whole will be
better integrated into the global economy.
Asean as a single economy is forecast to become
the fourth largest economy in the world by 2030, behind only the
United States and China.

5. What does it mean for businesses?

The AEC, as a single market comprising more than 600 million
people, has sparked keen interest among foreign investors.
For businesses, this could spell positive prospects. Besides
getting to enjoy lower trade barriers and higher trade flows, they
can access larger markets and enjoy the same incentives regardless
of which Asean country they operate in.
With tariff and non-tariff fully eliminated, those looking for
opportunities within the region will be able to expand more easily,
while tapping on the integrated production base.
 Small and medium-sized enterprises will be better placed to
expand regionally and then globally.

6. What does it mean for individuals?

Vendors waiting for customers at a market in Bogor,
Indonesia, on Oct 12, 2015. PHOTO: EPA
The AEC could generate around 14 million new jobs by 2025,
which means more opportunities in the corporate workplace. This
means that competition will increase as well.
Market watchers such as CBRE have said that the AEC could
ramp up the demand and supply of industrial and office space in
most Asean markets as more small and medium enterprises and
multinational corporations set up shop in the region.
This in turn may boost household disposable income as the
demand for blue and white collared workers grow and the pace of
urbanisation picks up.
A more affluent middle class will also drive the consumption
of goods and services, which is beneficial for the economy as a
whole.